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lease

i currently lease a vehicle and it doesn`t run out till march, 2011. if i claim bankruptcy, will i be able to keep the vehicle as i claim? thank you.

Posted from: Saskatchewan

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One Response to “lease”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

When filing for bankruptcy and wanting to keep a vehicle, what is important is the amount of equity and whether or not you are up to date on your payments.

With a lease, equity typically isn’t an issue as there is none, so as long as your payments are up to date you should have no problem filing for bankruptcy and retaining this vehicle.